Péter Szijjártó, Minister of Foreign Affairs and Trade, has revealed how Hungary's exports in the first five months of 2023 grew by 11% from a record-high base in 2022, reaching the all-time record of 63.5 billion euros.
Minister Szijjártó said that exports were key to Hungary’s economic performance, as the country is “extremely deeply integrated into the world economy”. Exports usually come to 80% of Hungary’s GDP, he said during a two-day cabinet meeting in Sopron. The stronger the sector’s performance, the likelier that the Hungarian economy continues growing, he said. Last year, exports hit 142 billion euros, and data show that that was surpassed in the first five months of this year. “This augurs the highest-ever export performance by the end of the year. Meanwhile, imports only grew by 2%, turning the country’s trade balance positive after a setback due to growing energy prices last year,” he said. The data shows the competitiveness of Hungary’s economy, he said. “This is good news … [suggesting] that we will be able to maintain economic growth in Hungary,” he said. Topics on the agenda of the cabinet include the government’s push for peace and opposition to migration, its aim to push inflation down, protect jobs, families and pensions and keep household energy bills low, the PM’s press chief said.
Photo credit: Facebook/Szijjártó Péter